Rome, 27 April 2024 – Il Italian government will ask Moscow for clarification on the affair nationalization of Ariston. Antonio TajaniMinister of Foreign Affairs, assured on of the Ariston Thermo Group. Also working with Brussels, in conjunction with Germany” (The German company Bosh was also nationalised, ed.).
Putin hands over Russian Ariston to Gazprom
Yesterday the Russian president surprised him Vladimir Putin signed a decree for the temporary transfer of the Russian subsidiaries of Ariston and Bosch to the local Gazprom Domestic Systemsa household appliance manufacturing company of the state-owned Gazprom group.
Last year Danone and Carlsberg
The reasons that pushed Putin to transfer Ariston Thermo Rus LLC and BSH Household Appliances LLC to Gazprom are not known. Already last year the Tsar had temporarily transferred the management of the Russian branches of Danone and Carlsberg at the Rosimushchestvo, the Federal Property Management Agency, through the control of actions. On that occasion, Moscow had anticipated the intentions of Danone which had announced its intention to exit the Russian market. While for Ariston and Bosch the provision is unclear, and management has been transferred directly to another industrial groupeven if controlled by the government.
Official note from Ariston: “They didn’t warn us”
The Ariston group released a note on what happened: “Waiting for explanations on the unexpected provision, we are evaluating the implications, also from a governance and management point of view. The Ariston Group, active industrially in the Russian Federation for almost 20 years with very correct relations with local institutions, was not informed in advance of the Decree and is extremely surprised by this initiative”.
Urso calls Merloni
Also the Minister of Business and Made in Italy, Adolfo Ursois taking an interest in the case and has heard about it on the phone Paolo Merloni, president of Ariston. Urso guaranteed the government’s availability to protect the company at every location, Mimit announces. Furthermore, at 2.30 pm the minister will meet in Pescara Francesco Acquarolipresident of the Marche Region, a region which hosts the headquarters of the Italian multinational in the Fabriano area.
Ariston factory in Russia since 2005
The establishment of Vsevolozhsk20 km from St. Petersburg, was inaugurated in 2005 and extends over 64 thousand m2, the company says. 200 employees are employed, between direct and indirect, plus another 100 who work in the commercial network. The plant produces electric water heaters for the Russian market. Since the beginning of the war, and the sanctions, investments are blocked and the branch continues to operate as usual. Ariston Group closed 2023 with revenues of 3.1 billion, of which the turnover of the Vsevolozhsk plant is around on 3% of the total.
EU: “Russia’s contempt for international laws”
The European External Action Service (EEAS), established to make Brussels’ foreign policy more coherent and effective and strengthen Europe’s influence on the world scene, commented on the nationalizations of Ariston and Bosh: “These measures, which they target legitimate economic activitiesI am another proof of Russia’s contempt for the laws and international rules”. And underlining that Moscow “continues to take measures against EU companies operating in the country”, concluding: “The European Union asks Russia to revoke these measures and seek acceptable solutions with European companies“, Moscow “confirms itself as a unpredictable actor also in the economic field”.
